HowTo Handle Your Own Retirement (NAPSA)—Retirement is evolving. Andif you're part of the baby boomer generation—an estimated 76 million Americans born between 1946 and 1964—you're seeingthis evolution first- hand. Callit the “newretirement,’ where it's increasingly likely your employer no longer provides you with a pension.This meansit's up to youto take care of your golden years. Are you ready?If you are, you're ahead of many ofyour peers. ‘The Problem Five years after the first wave of boomers turned 65, the Bankers Life Centerfor a Secure Retirement checked in with middle-income Americans to see howretirementis unfoldingfor this generation. Less than halffeel they have : — rete) me It can be a goodideato getprofesal help with planning for your ment. You don’t need to be wealthy to benefit from financial professionals. Their experience in retirement planning can be an extremely valuable resourcein help- ing you find savings products that can a strong understanding offinancial matters, and of the 84 percent who think of themselves as at least somewhatfinancially literate, most haven't done enough to put that knowledgeto gooduse. ‘Three-quarters have not calculated a monthly retirement income num- provide a reliable monthly income. 3. Don't be overly reliant on ben- don’t have a written retirementplan; and designedto fully replace one’s wages. 4. Educate yourself: Many products are available to help you plan ber goal they needto reach; nine in 10 nearly seven in 10 admit that they don’t have, or don't know whetherthey have, the financial resourcesto live comfortably to age 85,the averagelife expectan- cy of a 65-year-old boomertoday. What You Can Do Retirement planning can be challenging and complex. Fortunately, you can dofive things to become more financiallyliterate and to ensure a more secureretirementfor yourfuture. 1. Developa plan:Evenifyoustarted preparing forretirementlate, getting plan in placewill help you figure out whatsteps to take now and whatsteps you mayneedto takein the future. 2. Considerprofessional guidance: efit programs:Retirementis becoming more dependent on individual con- tributions—onlya third of nonretired boomers expect to get guaranteed post-employment income from an em- ployer. Also, Social Security was never and save for your retirement, provide incomeandprotect your assets. Take the timeto learn about mutual funds, IRAs, Roth annuities. IRAs, insurance and 5. Be prepared: Plan to meet unexpected situations by creating or updat- ing a will and powerofattorney. Learn More For a free, downloadable booklet on Top Tips for Retirees, including safety and security, reducing falls, fighting loneliness, managing pre- scription drug costs and more, visit www-BankersLife.com/TopTips.
